Calibermind Revenue, Valuation & Funding (2024)

this is the top where I interview entrepreneurs to our number one our number two in their industry in terms of revenue or customer base you'll learn how much revenue they're making what their marketing funnel looks like and how many customers they have I'm now at twenty thousand dollars per ton global domination and I'm your host Nathan laughs qey okay top tried this week's winner of the hundred bucks is Rhett Dillon's he is a restaurant industry he's in the restaurant industry and he feels stuck he wants to start his own software business so congratulations Rhett for your as a champ to 100 bucks every Monday morning simply subscribe to the podcast on iTunes now in order to enter and then text the word Nathan two three three four four four to prove that you subscribed folks men if you reach out to me and you say Nathan so many guests on your show talk about the importance of batching but whenever I try and batch you tell me this you go Nathan they don't look back to back times so you an or they don't show up after they book it's frustrating the answer is guys you have to use smart tools I use a tool called a QT scheduling at Nathan latke calm /schedule I'll tell you specifically how I use it later on in the episode Nathan latke here this is episode 585 and coming up tomorrow morning you're gonna learn from Charles who is the CEO of zap and Mito their annual contract value is $210,000 they're currently up to 12 customers helping them with the knowledge networks and they raced 650k good morning folks Nathan like to hear our guest today is Reviva Turner and he is the co-founder and CEO of caliber mind the first marketing technology platform to apply machine learning and human language analysis to build detailed psychographic buyer profiles he has more than 10 years of experience leading products and development for high-growth b2b SAS companies his power roles include director of UX at full contact and VP of Product ID tap influencer Raviv is a mentor at the textures accelerator and holds a master's in interactive media from n y-you Raviv are you ready to take it to the top very good okay good well you're in good company we've had parson full contact on I love the folks at tap influence so tell us what caliber mine does and how you generate revenue yes we analyze structured and unstructured data that includes sales email sales conversations taking email address and looking at public social footprints and basically building a very neutral psychographic profiles on V to be buying teams and if you look at the way that businesses are buying from other businesses today that's changing and the modern b2b buyers journey is just getting more complex there's you to study out there to suggest that by the end of the day people buy from people is only about size of deals at the hundreds of millions of dollars where the human factor is totally being lured so you can say we are human izing b2b marketing in sales by providing psychographic profiling on the buying team and how do you make money caliber mine is a SAS platform so we make money from subscription services we do an oil deal Inc starting at $2,000 per month and that depends on the number of contacts that you have in your CRM and need to analyze as well as the data sources that you want to plug in into calibre and so what is the if we take just your average the kind of you're at what your average customer is paying you per month what is that number at the mid-market like I said it's starting at the $2,000 per month Enterprise is usually jumping up to between 3 to $5,000 per month again depends on the number of contacts there yeah so I don't want to get into each individual plan which is why I was trying to get to an average so if you average all your customers on average were they paying per month okay got it across your entire user customer base okay great and then give us some more history on the business so what did you launch it so we launched back in 2015 and my co-founder orange Zamir our CTO and I go many years back to the Israeli army actually we both of our career background in the Israeli intelligence and some of the algorithms being used with calibre actually probably been used by government agencies and whatnot for other purposes so the idea of taking text and building detailed profiles from people is not you it's just you can say we adopted this from the military into basically using these in the complex world of enterprise sales and what is the so-so yeah I read your bio so folks know you kind of come from enterprise world but why did you guys decide to get specifically into this space what did you see that made you excited about it for the past 15 years I was usually in a role of a product designer building marketing technology that was usually my job as a user experience designer to better understand customers so I've been deployed most quantitative and qualitative techniques to understand people with analytics and structured data that's that's great but that's only telling you that what is happening not so much the who and why if you want to go deeper on unlocking the buyers mindset you need to understand people on all different level which usually involves doing things like persona development journey mapping contextual observation customer interviews and then you just end up with tons of text and maybe even a PowerPoint but that's slowly starting in siloed so we saw hey what if we could do what's called a by a profiling and use some AI and natural language processing to basically process tones of text of what people are writing about or saying in emails even recorded sales calls and keep this like systematic listening to your buyers and then push all of this beep back to your CRM we are built on top of Salesforce where both marketing and sales people can use this data to better communicate with with buyers and so where are you today how many customers are on the platform we launched the beta six months ago so we have our first 12 customers on the platform yeah okay and you are just so people listening to this at a later date six months ago would have been kind of q3 2015 correct okay so is Inc is the math is simple I can take 12 customers x 3 grand and monthly ARPU to get you guys are doing about 36 grand per month right now services where we actually go in and optimize marketing automation so for software Avenue yes you right and that's almost like professional services you used to drive cash forward to fund sophomore software development services and kind of holding hands with your customer and make sure that they are successful so we actually keep learning from providing these onboarding services plus you know in the kind of messy world of enterprise technology sometimes you have to go in and kind of fix stuff or or clean the data and prep it's just to make sure that you can run some machine learning right so there's definitely a process that includes some services in the offering yeah and have you and your founder or your co-founder raised cap or B bootstrapped we bootstrap the first year we graduated from the Boomtown accelerator here in Boulder last year and once we started to find for the Market Street and get some initial traction from customers this is when we went and raised our 1.1 million seed round led by me and Mary judge funds so we post revenue and we raised our seed round we closed on a 1 for 1 million back in October last year 2016 got it good so 1.1 million seed in October 2016 about 12 customers now 36 grand and monthly recurring revenue have any customers that have signed up left you as any churn yet I guess it's too early there probably be some sure like every other sales company so at the most you know we have customers just waiting for us to catch on the roadmap and some requested features that we need to catch up on but no no churn hasn't yet and I assume it's probably also too early for things like CAC and LTV right it's still too early most of the business so far was basically leveraging our network and going and meeting customers at events and there is a huge like I said there was a huge shifting b2b marketing called a con based marketing so we kind of writing this account based marketing way whether he's just drawing pain with existing CRM and marketing automation platforms that were just not built for that kind of complex buyer journey so the first few customers who one came is actually reference yes got it and what is the what's the current team size everybody's in Boulder yeah okay great and what is the what's the split they're muslim engineers or have any inside salespeople now so that's the mix we have our new VP cells that supposed to join caliber and then most of the team are actually developers and data scientists and we also have Ming's angry was a former director of marketing of the dead role that's leading our marketing technology and product how'd you convince him to leave a draw at the crafts restaurant in Vegas we met Nick the mercury event and Nick is one of these thought leaders on revenue ops and marketing offs and he's been looking to actually solve this problem for a long time and being able to do segmentation based on needs and and like I said kind of reading the human factor into lead nurturing and and marketing and sales ops which was just not possible before caliber mind existed did you guys your mcquoddy so it was an easy decision of room to leave at all got it very cool Reviva what other companies are in this space if you had to name four or five there is a company called user mind raised from Anderson ala weeds and they also do what's called joining orchestration out of the Bay Area there is a company called I've nine there is paper systems which is probably the incumbent in the in the in the space doing some customer data platform and Rhoni orchestration so just to name a few because I get asked all the time Nathan that you post all these interviews hundreds of them per month how do you do them efficiently and guys dance are simple people always great to my calendar back-to-back meetings I - my entry is to say very efficient and the way that I do it is I use a tool called acuity scheduling at Nathan Alaska calm /schedule and the reason I use it is very simple they keep my no-show rate very low because they send out reminders about when the interview or the meeting is coming up and also they make it very easy to schedule time right go back and forth via email 10,000 times with people I'm trying to meet with Nate elected come forward it's /schedule that was me so much and by the way look are you like have so many meetings I'm the best of meetings okay I do them back-to-back very very efficient do you guys know me many people say I'm the most efficient they've ever seen okay so I use a tool it's so efficient and by the way I got Gavin I said Gavin he's the CEO I said I want a great deal for my people he said Nathan well most people get a 14 day trial isn't that great I said no he's giving us a 45 day free trial Nathan I could calm /schedule that's like a stamp rubber so go get it now Nathan vladka calm /schedule got it very cool well let's wrap up for V with five quick questions here the first one what is your favourite business book my favourite business book well that's hard film reading I would say on marketing there is acting marketing from Scott Brinker which is all about you know how to act modern marketing and marketing text marketing acting marketing hacking hacking marketing got it number two is their CEO you're following or studying right now those are you saying the CEO is there a CEO that you are following or studying right now there's a CEO I'm filing of studying I learned the console box around in full contact another on have really successful companies and then also yeah that's that's that's like usually you know some CEO or work was in the past so that there would be parts good guys if you want to learn from Bart we had him on an episode 513 nice mechanic on 4-5 13 is company full contact has raised fifty million dollars helping over fifty thousand customers get accurate contact data big business growing quickly number four a Reviva what is your start number three what is your favorite online tool for project management make sure you know I'm on top of my tasks and then using seven ps4 okay ours I'm a great delivering objective and clear results to kind of align the company and make sure we can all low end in the same direction 70s 70s folky ours and then select for our communication during the day number four yes you get eight hours of sleep every night doing my best doing my best on eight hours usually I'm successful with that that's the nights that I don't wake up with cold sweat and feel like I need to be at the computer I think stuff and what's your situation married single you have kids very good and so and how are you alright so last question take us back twenty-one years what are you sure twenty year old self new I guess your network is your net worth so start working on your network early and give first which is also a techstars mantra totally believe in this it's always looking for ways out I can help you know other people on my network without getting anything back something I wish I knew twenty years ago there you guys have a from Raviv your net work is your net worth from the founder of caliber mine they raised 1.1 million bucks on their seed round back in October of 2016 now serving of customers that pay on average three thousand dollars per month for about thirty six grand and total monthly recurring revenue it's too early to talk about gross churn CAC LTV and things like that but they've got their team of eight based in Boulder again helping to get better data right two teams using their information which integrates directly with your CRM marketing automation platforms again to orchestrate b2b buyers journeys that improved demand and accelerate sales using artificial intelligence Raviv thank you for taking us to the top if you enjoyed Raviv today go back and listen to Lauren yesterday she's the founder of Y Combinator back to flight fox she talks about the why they talk about fitting all the time how they hit seven hundred grand in revenue and why they're making travel so much easier the top tribe I love giving away a free money I feel like Oprah are giving away cars and I have something special for you today how many of you have heard our super sharp guests talk about success they've had with Facebook and Google Ads well all of you listening right now only ask if you're listening you get a hundred dollars in free AdWords here's how you get it okay again thanks for listening get the 300 dollars from Google right when you sign up with my website host provider Hostgator go sign up now to get your free money hostgator.com forward slash Nathan again that's hostgator.com forward slash Nathan okay top drive I'll see you bright and early tomorrow morning and don't forget before you listen to any other episodes subscribe on iTunes right now for your chance to win a hundred bucks every Monday [Music]